ON (NYSE:ONON) Rating Reiterated by Truist Financial

ON (NYSE:ONON)‘s stock had its “buy” rating reaffirmed by investment analysts at Truist Financial in a note issued to investors on Tuesday, Benzinga reports. They currently have a $46.00 price target on the stock. Truist Financial’s price objective suggests a potential upside of 10.52% from the stock’s current price.

A number of other research analysts also recently commented on ONON. TD Cowen boosted their target price on ON from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Needham & Company LLC raised their price objective on ON from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. TheStreet cut ON from a “c” rating to a “d+” rating in a research report on Monday, March 18th. JPMorgan Chase & Co. lifted their price target on shares of ON from $40.00 to $47.00 and gave the company an “overweight” rating in a research report on Monday. Finally, William Blair initiated coverage on shares of ON in a report on Tuesday, April 16th. They issued an “outperform” rating on the stock. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $42.00.

ON Price Performance

NYSE ONON opened at $41.62 on Tuesday. The company has a 50 day simple moving average of $36.49 and a 200-day simple moving average of $32.53. The firm has a market capitalization of $26.21 billion, a price-to-earnings ratio of 94.59, a price-to-earnings-growth ratio of 1.24 and a beta of 2.27. ON has a 52-week low of $23.41 and a 52-week high of $44.30.

ON (NYSE:ONON) last announced its quarterly earnings data on Tuesday, May 14th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.20. ON had a return on equity of 11.13% and a net margin of 6.46%. The business had revenue of $581.41 million during the quarter, compared to analyst estimates of $555.52 million. On average, analysts predict that ON will post 0.77 EPS for the current year.

Hedge Funds Weigh In On ON

Institutional investors and hedge funds have recently bought and sold shares of the business. Orion Capital Management LLC increased its stake in shares of ON by 1,100.0% in the 4th quarter. Orion Capital Management LLC now owns 1,200 shares of the company’s stock valued at $32,000 after buying an additional 1,100 shares during the period. VisionPoint Advisory Group LLC acquired a new position in ON during the 4th quarter valued at about $32,000. Global Wealth Management Investment Advisory Inc. bought a new position in shares of ON in the 4th quarter valued at about $33,000. Asset Dedication LLC bought a new stake in shares of ON during the 3rd quarter valued at $35,000. Finally, Spire Wealth Management lifted its stake in shares of ON by 66.2% in the 4th quarter. Spire Wealth Management now owns 1,615 shares of the company’s stock valued at $45,000 after purchasing an additional 643 shares during the period. Institutional investors and hedge funds own 33.11% of the company’s stock.

ON Company Profile

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.